Read this week’s assigned reading reflection articles in HBR 10 Must Reads on Strategy and summarize either article using 400-600 words (no more and no less). Each entry should have:
at least one particularly insightful and relevant quotation/citation/reference (QCR) of 6-30 words (no more and no less) from the article and
at least one particularly insightful and relevant quotation/citation/reference (QCR) of 6-30 words (no more and no less) from another reputable source.
Quotations/citations/references should be cited using APA 6th edition writing style requirements NOTE: You should also use at least half your words to connect and apply the readings to your real-world experience. (Citation-level APA Requirements).
Here are some notes on reputable sources:
Great: Drawn from journals and reputable sources like HBR
Good: Materials from well-recognized magazines and papers such as Forbes, Wall Street Journal, TIME, etc.
Adequate: From most magazines or websites
Poor: Old or obscure sources
Not acceptable: Crowd-sourced sources such as Wikipedia
Select Create Thread to post your summary reading reflection and submit on or before the due date.
Make sure to:
Include appropriate quotation/citation/references
At least half of your reflection words should be related to applications in your world
Include the word count at the bottom of your reflection and response
Post text. DO NOT POST an attached word.doc
Article Summary: “What is Strategy?” by Michael Porter
In “What is Strategy?”, Michael Porter addresses the common misconception that operational effectiveness and strategy are the same thing. While operational effectiveness is necessary to keep a company competitive, it is not sufficient to achieve long-term success. Instead, companies must have a unique and sustainable strategy that sets them apart from competitors.
Porter argues that a company’s strategy should involve making trade-offs, such as choosing to focus on a particular market or segment and forgoing others. He also emphasizes the importance of fit, where the company’s activities and resources are aligned to support the chosen strategy.
One particularly insightful quote from the article is, “A company can outperform rivals only if it can establish a difference that it can preserve. It must deliver greater value to customers or create comparable value at a lower cost, or do both.”
Porter’s ideas have been widely influential in the business world, and many companies have used his framework to develop their own strategies. However, some critics have argued that his approach is too focused on competition and doesn’t take into account broader societal impacts.
In my own experience working in marketing, I have seen the importance of developing a unique and differentiated strategy. For example, when launching a new product or service, it’s not enough to simply copy what competitors are doing. Instead, we must identify the unique value proposition that we can offer and communicate that to our target audience. By doing so, we can create a strong brand identity and gain a competitive advantage.